Possibly - it all depends on what
sort of policy you have. Two aspects could result in the premium
increasing:
Index Linking
Index Linking is a method of adjusting the sum insured to keep up with price inflation. Your monthly premium will increase in line with the increase in the sum insured.
Your policy has "Reviewable Premium"
With a "Reviewable Premium" your insurance company has the right to review your premium at pre-set intervals (normally every 2 to 5 years - but this interval varies between insurance companies). The monthly premium will normally rise every time your insurance company reviews your premium. To avoid these increases you need to buy a policy with "Guaranteed Premiums" rather than "Reviewable Premiums".
In the initial years the cost of
a policy with "Guaranteed Premiums" will be higher than one
with "Reviewable Premiums" - but in the longer term a policy
with "Guaranteed Premiums" will work out much cheaper.
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